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| ▲ This photo taken on Sept. 23, 2020, shows the headquarters buildings of LG Group in Seoul. (Yonhap) |
LG Electronics-solar panel biz
LG Electronics to close solar panel biz amid uncertainties
SEOUL, Feb. 23 (Yonhap) -- LG Electronics Inc. said Wednesday that it decided to discontinue its solar panel business due to rising costs and fierce competition.
The decision came "as uncertainties in the global solar panel business continue to increase due to a variety of factors, including price competition and the rising cost of raw materials."
LG said it will commit more resources to its core business sectors, including consumer appliances, and other future growth engines such as robots.
The closure of the solar panel business is expected to be completed by June 30, it said.
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